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What is the price action in the GBPUSD saying?
The “No” votes have been encouraging in the early tally out of Scotland (with the larger regions still to come) and the traders have not been able to curb their bullish enthusiasm. The price of the GBPUSD has – in the process – moved above channel trend line (at the 1.6420 area), the low from March 2014 at the 1.64612, The 38.2% of the move down from the July 2014 high at the 1.64856. The next target areas at the 1.6435-51 and then up at the 1.66201 (50% of the move down from July 2014 high) have not been breached. The market is either taking a breather before the rest of the results gets tallied and reported ... (full story)
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